Boeing (NYSE:BA) Shares Up 2.1% – What’s Next?

The Boeing Company (NYSE:BA) rose 2.1% during mid-day trading on Monday . The stock traded as high as $206.86 and last traded at $206.1610. Approximately 8,671,398 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 8,356,696 shares. The stock had previously closed at $201.89.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday, September 30th. BNP Paribas set a $150.00 target price on shares of Boeing in a research report on Tuesday, November 18th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $267.00 target price on shares of Boeing in a report on Friday, November 14th. Finally, Deutsche Bank Aktiengesellschaft downgraded Boeing from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.09.

Boeing Trading Up 2.1%

The stock’s 50-day moving average price is $204.25 and its two-hundred day moving average price is $214.21. The stock has a market capitalization of $156.70 billion, a P/E ratio of -15.07 and a beta of 1.18.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion for the quarter, compared to the consensus estimate of $21.61 billion. During the same quarter in the previous year, the business earned ($10.44) earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other Boeing news, SVP Dana S. Deasy acquired 554 shares of the company’s stock in a transaction on Monday, November 24th. The shares were acquired at an average cost of $178.88 per share, with a total value of $99,099.52. Following the completion of the acquisition, the senior vice president directly owned 28,442 shares in the company, valued at $5,087,704.96. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the transaction, the executive vice president owned 14,656 shares of the company’s stock, valued at $2,896,904.96. This represents a 8.53% decrease in their position. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boeing

Hedge funds and other institutional investors have recently bought and sold shares of the business. Revolve Wealth Partners LLC purchased a new stake in Boeing during the 4th quarter worth about $201,000. Zions Bancorporation National Association UT purchased a new position in Boeing during the 1st quarter valued at about $767,000. Frank Rimerman Advisors LLC increased its position in shares of Boeing by 15.6% during the first quarter. Frank Rimerman Advisors LLC now owns 3,589 shares of the aircraft producer’s stock valued at $612,000 after buying an additional 484 shares during the period. Covestor Ltd lifted its holdings in shares of Boeing by 108.1% in the first quarter. Covestor Ltd now owns 537 shares of the aircraft producer’s stock worth $91,000 after buying an additional 279 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Boeing by 70.6% in the first quarter. Benjamin Edwards Inc. now owns 23,077 shares of the aircraft producer’s stock worth $3,936,000 after buying an additional 9,552 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.